Cardano, the 10th-ranked cryptocurrency asset, is facing tough times amid market volatility yet shows signs of a possible shift in its momentum.
Cardano Trading Volume Rises
Despite the price decline, Cardano's trading volume has increased by 4.84%, equivalent to $1.2 billion traded in the last 24 hours. This may indicate investors repositioning ahead of a possible price breakout.
Starstream Upgrade May Be the Next Catalyst
With ADA registering over 40% growth in July, investors are optimistic that the asset will move closer to the critical $1 level. The development team is planning a significant overhaul on Starstream, which could enhance the network's competitiveness.
Prospects for Cardano in the Market
Given the recent price fluctuations that peaked at $0.935, it is suggested that Cardano is capable of flipping $1. Investors anticipate that the forthcoming upgrade will inspire further growth and potentially trigger a rally.
At this juncture, Cardano stands at the crossroads of opportunities and challenges. Rising trading volume and upcoming upgrades are significant factors that could influence the asset's market behavior.
